Funding arb · Price arb /

ETH

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC0.0000%/8h= 0.0% APRpaid last 24h −0.032%

Price spread now: Gate against Polymarket Perps−0.122%7-day average −0.015% · you buy dearer than you sell

Net, funding: paid 7d − costs−$37as in the Funding arb table

Net, price: spread back to 7d avg − costs−$34as in the Price arb table

costs, in and out, $10k−$240.236% of the position

Long on Polymarket Perps Short on Gate

What this pair did over the last

the charts below follow

Funding, last 7 days−0.131%−$13 on $10k

Price spread, last 7 days+0.132%+$13 · spread now −0.122%, 7d avg −0.015%

Together, before fees+0.002%$0 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Gate is 0.107% cheaper against Polymarket Perps than usual: you would sell low and buy high, −$11 on $10k if it goes back to its 7-day average of −0.015%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Polymarket Perps ETH-USD	2,729	0.0100	pay 0.0013% / 1h	48m 09s	$10.9M	$8.8M	50x
Short	Gate ETH_USDT	2,725.7	0.0100	get 0.0100% / 8h	4h 48m	$3.34B	$8.73B	200x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate against Polymarket Perps. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

click an exchange to add or hide it

latest

How often the price spread is this wide · share of time at each level, last 7D show

Profit calculator

Position, each leg$Hold fordaysFee Polymarket PerpsbpFee GatebpOrdersPrice spread, now −0.122%Rate

Funding earned: $0
Price spread: −0.122% → −0.015%: −$10.72
Slippage, 4 orders: −$0.61
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$34.33
Costs to cover: 0.236%
Break-even: never at this rate

Slippage from Polymarket Perps: live order book, 6 min ago; Gate: live order book, 6 min ago.

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again

Leg	Half-spread	$10k	$100k	$1M	$5M
Buy Polymarket Perps live order book, 6 min ago	0.18 bp	4.4 bp −$4	5.4 bp −$54	12.9 bp −$1,291	doesn't fit
Sell Gate live order book, 6 min ago	0.02 bp	7.5 bp −$8	7.6 bp −$76	11.0 bp −$1,098	19.1 bp −$9,563

ETH on 55 venues

lowest funding first. Swap a leg: a good short leg pays more funding and is priced higher.

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Perpl ETH	−0.0447%	43m	2,727.7	−0.048%	$301K	$5.6M	8.3x	as long as short
Injective ETH/USDC PERP	−0.0141%	1h	2,735.5	+0.238%	$117K	$22.5M	52x	as long as short
Hotstuff ETH-PERP	−0.0080%	1h	2,732.1	+0.114%	$5K	$1K	50x	as long as short
GMX ETH/USD [ETH-USDC]	L −0.0010% / S +0.0043%	1h	2,727.8	−0.043%	$11.9M	—	200x	as long as short
dYdX ETH-USD	0.0000%	1h	2,727.6	−0.051%	$10.7M	$41.7M	50x	as long as short
01 Exchange ETHUSD	0.0000%	1h	2,727.9	−0.040%	$181K	$834K	50x	as long as short
Phoenix ETH	0.0000%	1h	2,741.2	+0.447%	$834K	$2.9M	25x	as long as short
gTrade (Gains Network) ETH/USD	L +0.0007% / S −0.0007%	1h	2,727.9	−0.042%	$25.7M	—	200x	as long as short
Bullet ETH-USD	+0.0029%	1h	2,727.1	−0.071%	$180K	$1.7M	20x	as long as short
SoDEX ETH-USD	+0.0034%	1h	2,725.3	−0.136%	$54.3M	$187.6M	40x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Deribit ETH-PERPETUAL	+0.0040%	1h	2,726.7	−0.084%	$260.1M	$196.7M	50x	as long as short
BingX ETH-USDT	+0.0056%	8h	2,725.4	−0.130%	—	$1.14B	—	as long as short
KuCoin ETHUSDTM	+0.0071%	8h	2,725.5	−0.130%	$379.2M	$573.8M	100x	as long as short
OKX ETH-USDT-SWAP	+0.0072%	8h	2,725.4	−0.130%	$1.66B	$10.65B	100x	as long as short
Aster ETHUSDT	+0.0082%	8h	2,727.2	−0.066%	$252.2M	$842.5M	200x	as long as short
Aevo ETH-PERP	+0.0088%	1h	2,726.6	−0.089%	$4.9M	$154K	20x	as long as short
Binance ETHUSDT	+0.0089%	8h	2,725.8	−0.118%	$6.33B	$15.81B	150x	as long as short
MEXC ETH_USDT	+0.0090%	8h	2,725.8	−0.119%	$1.53B	$2.54B	500x	as long as short
Lighter ETH	+0.0096%	1h	2,726	−0.109%	$111.9M	$434.4M	50x	as long as short
Lighter RH ETH	+0.0096%	1h	2,727	−0.072%	$23.2M	$105.4M	50x	as long as short
Jupiter Perps ETH-PERP	L +0.0096% / S +0.0056%	1h	2,727.8	−0.045%	—	$30.4M	500x	as long as short
RISEx ETH/USDC	+0.0099%	1h	2,729.8	+0.029%	$5.6M	$11.5M	25x	as long as short
Paradex ETH-USD-PERP	+0.0099%	8h	2,731.9	+0.107%	$15.8M	$8.0M	50x	as long as short
Katana Perps ETH-USD	+0.0100%	8h	2,728.3	−0.026%	$497K	$3.2M	50x	as long as short
Nado ETH-PERP	+0.0100%	1h	2,727.6	−0.051%	$13.8M	$104.7M	50x	as long as short
Hyperliquid ETH	+0.0100%	1h	2,727.8	−0.046%	$3.09B	$2.06B	25x	as long as short
Pacifica ETH	+0.0100%	1h	2,728.4	−0.022%	$31.6M	$333.8M	50x	as long as short
Bybit ETHUSDT	+0.0100%	8h	2,725.3	−0.136%	$2.39B	$4.31B	150x	as long as short
Ondo Perps ETH-USD.P	+0.0100%	1h	2,728.4	−0.022%	$2.7M	$16.9M	25x	as long as short
Arcus ETH-USD	+0.0100%	1h	2,729.9	+0.033%	$2.8M	$16.1M	25x	as long as short
Bulk ETH-USD	+0.0100%	1h	2,740.8	+0.431%	$166.9M	$306.7M	25x	as long as short
Gate ETH_USDTshort	+0.0100%	8h	2,725.7	−0.122%	$3.34B	$8.73B	200x
Bitget ETHUSDT	+0.0100%	8h	2,725.4	−0.133%	$2.07B	$2.75B	150x	as long as short
Backpack ETH_USDC_PERP	+0.0100%	1h	2,725.2	−0.140%	$14.9M	$39.7M	50x	as long as short
Variational Omni ETH	+0.0100%	8h	2,734.9	+0.216%	$133.1M	$324.8M	—	as long as short
edgeX ETHUSDC	+0.0100%	4h	2,738	+0.329%	$182.0M	$665.6M	100x	as long as short
GRVT ETH_USDT_Perp	+0.0100%	8h	2,739	+0.366%	$159.4M	$84.4M	50x	as long as short
ApeX Omni ETHUSDT	+0.0100%	1h	2,735.3	+0.231%	$8.7M	$30.7M	100x	as long as short
StandX ETH-USD	+0.0100%	1h	2,732.1	+0.114%	$21.1M	$69.6M	40x	as long as short
Vest ETH-PERP	+0.0100%	1h	2,729.8	+0.028%	—	$843K	50x	as long as short
Polymarket Perps ETH-USDlong	+0.0100%	1h	2,729	long leg	$10.9M	$8.8M	50x
Derive ETH-PERP	+0.0100%	1h	2,727.4	−0.059%	$41.2M	$29.7M	15x	as long as short
SunX ETH-USDT	+0.0100%	8h	2,725.4	−0.133%	$955K	$11.4M	100x	as long as short
HTX ETH-USDT	+0.0100%	8h	2,724.7	−0.159%	$1.05B	$1.19B	200x	as long as short
Phemex ETHUSDT	+0.0100%	8h	2,725.8	−0.116%	$265.0M	$65.3M	150x	as long as short
Extended ETH-USD	+0.0104%	1h	2,725.9	−0.112%	$30.4M	$72.5M	50x	as long as short
Coinbase International ETH-PERP-INTX	+0.0112%	1h	2,726.7	−0.086%	$52.0M	$4.25B	50x	as long as short
Aftermath Perps ETHUSD	+0.0120%	1h	2,736.2	+0.263%	$30K	$20K	20x	as long as short
Kalshi KXETHPERP	+0.0155%	8h	2,729	0.000%	$6.5M	$676.0M	4.9x	as long as short
Orderly PERP_ETH_USDC	+0.0194%	8h	2,729.7	+0.025%	$32.1M	$11.5M	100x	as long as short
BloFin ETH-USDT	+0.0211%	8h	2,728	−0.037%	$284.8M	$173.9M	150x	as long as short
Kraken Futures PF_ETHUSD	+0.0223%	1h	2,726	−0.111%	$84.5M	$313.3M	100x	as long as short
Reya ETHRUSDPERP	+0.0224%	1h	2,726.7	−0.084%	$7.3M	$1.2M	25x	as long as short
Hibachi ETH/USDT-P	+0.0248%	1h	2,732.1	+0.115%	$254K	$1.4M	20x	as long as short
Bluefin ETH-PERP	+0.0895%	1h	2,728	−0.038%	$21K	$20K	25x	as long as short